Global law firm DLA Piper is advising ASX-listed tech company Nearmap on its AUD1.05 billion acquisition by US private equity firm Thoma Bravo.
Nearmap is a leading location intelligence and aerial imagery company. Founded in Australia in 2007, it has grown to become one of the largest aerial survey companies in the world.
Thoma Bravo is one of the largest private equity firms in the world with more than USD114 billion in assets under management, investing in growth-oriented, innovative companies in the software and technology sectors.
It is proposed that Thoma Bravo acquire 100% of the shares in Nearmap for AUD2.10 cash per share by way of a Scheme of Arrangement. This transaction is another great example of our market leading capability to deliver complex cross-border public M&A transactions, particularly in the tech sector. We worked alongside Citigroup Global Markets Australia Pty Limited, who acted as financial advisor to Nearmap.
DLA Piper’s global, cross practice team was led by Partner David Ryan, supported by Partners Elliott Cheung and James Stewart, Special Counsel Roger Hawkins, Solicitors Cassian Ho and Mariam Jaber, and Graduate Abdul Ali. Our tax team also played a key role, led by Partner Eddie Ahn and Senior Associate Kenny Mui, as well as our US team led by Partners Andy Weil and Paolo Morante.
“We are delighted to have advised our long-standing client on this transformative milestone and are proud to have supported them on their journey over many years”, said David Ryan.
This deal continues to build on our track record of advising clients on complex public M&A mandates, including Lionheart III Corp on its US$360 million acquisition of ASX-listed SMX (the first de-SPAC acquisition of an ASX-listed company), South Korean POSCO International on its AUD860 million acquisition of ASX-listed gas producer Senex Energy, ASX-listed Saracen Minerals on its AUD16 billion merger with ASX-listed Northern Star Resources, UK-based Nordgold on its AUD600 million takeover bid for ASX/TSX dual-listed Cardinal Resources, and ASX-listed US fintech Credible Labs on its AUD585 million merger with NASDAQ listed Fox Corporation.
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